A Price Floor Set Above the Equilibrium Price Causes Quantity

question 159

True/False

A price floor set above the equilibrium price causes quantity supplied to exceed quantity demanded.

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Definitions:

Exotic Species

Organisms introduced to a new habitat where they are not naturally found, often causing harm to the local ecosystem and native species.

Indicator Species

Species that serve as a sign or indicator of the health or condition of an ecosystem, often sensitive to environmental changes.

Endemic Species

Species that are native to a specific geographical area and found nowhere else in the world.

Pioneer Species

The first species to colonize barren environments or freshly disturbed lands, often initiating ecological succession.